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Albertsons guides $1.25 billion eight-year notes offer at 6¾%-7%; pricing expected Wednesday
By Paul A. Harris
Portland, Ore., May 23 – Albertsons Cos. Inc. is guiding a $1.25 billion offering of eight-year senior notes to yield 6¾% to 7%, according to a trader.
The deal, which is being led by BofA Merrill Lynch, is expected to price on Wednesday.
The notes come with three years of call protection.
The company is also in the market with a $1.5 billion term loan via Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Goldman Sachs & Co., Deutsche Bank Securities Inc. and Barclays.
The Boise, Idaho-based food and drug retailer plans to use the proceeds to repay some amounts outstanding under its existing term loan facility and to redeem 7¾% senior secured notes due 2022.
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